One-page client case studies (Retail)

CIBC Business Banking

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CIBC | Business Banking Rates & Fees, Offers & Rewards and Billing CIBC BUSINESS GAPS Inflexible legacy systems • Product launches and fee adjustments often were time - intensive and expensive undertakings for CIBC's Global Transaction Banking team due to the complexity involved with managing multiple legacy banking systems • Annual pricing r eview process extended to a 6 - 9 month program, executed by Product Managers and technology teams at a cost of over a million of dollars per year Manual ad hoc processes • It was also difficult to organize pricing campaigns and control special pricing arrangements • Pricing and billing process for large clients with customized fee arrangements was manual, resulting in inaccurate and frequently delayed invoices and reporting and with an adverse impact to the client experience Inconsistent pricing governance • Pricing changes were difficult to deploy across the network, resulting in certain products having a price that was obsolete Founded in 1867 and based in Toronto, Canada, the Canadian Imperial Bank of Commerce (CIBC) is one of Canada's "Big Five" banks and manages over USD $355 billion in assets. CIBC offers products and services across retail, business, wealth management and capital markets. The Bank has over 44,000 employees and 1,129 branches, serving over 11 million clients across Canada and in the Caribbean. CIBC Business Banking looked to improve its pricing and billing capabilities as part of its client - focused strategy to simplify and make banking easy. Revenue leakage resulting from dependency on legacy systems and manual discretionary pricing: • GTB's Order to Cash Process incurred high costs and operational risk due to reliance on manual processes for deal pricing, billing set up and billing execution • Decentralized client pricing practices by RMs led to difficulties when enforcing adherence to pricing and profitability guidelines • Legacy systems required IT involvement when making product/pricing changes and created long lag times to market With Zafin's Solution: • 70% cost reduction when processing annual fee changes • 90% of exception prices that were once manual are now completely automated • 600K accounts and 15MM transactions processed per month • 50% improved time to market CIBC emphasized the importance of aligning introduction of new IT capability with restructuring of business processes to meet its evolving pricing and profitability requirements Implementation of an automated system would help address internal processing challenges from both a technical and strategic standpoint , better serve corporate clients and reduce operating costs and risks

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